BenefitPoint Releases Breakthrough Version 4.0 -- Enabling End-to-End eProcurement for Employee Benefits Products and Services.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--May 22, 2001 New Release Provides Enhanced eCommerce Functionality for insurance carriers and 130 brokerage and consulting firms already using BenefitPoint for Requests for Proposal (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) and renewal processing BenefitPoint, Inc., the leading employee benefits eInfrastructure company for the distribution and management of group insurance and financial products, today announced that it has released a new version of its flagship eCommerce application for use by the $600 billion employee benefits industry. BenefitPoint 4.0 enables end-to-end end-to-end a pattern of anastomosis in which severed ends are matched and united, in contrast with other patterns such as end-to-side or side-to-side. Usually applied to anastomosis of the intestine. eProcurement of employee benefits products and services between insurance carriers and brokers/consultants. Regional and national insurance carriers and over 130 leading brokerage/consulting firms, representing over $80 billion in premiums, have adopted the BenefitPoint solution to take advantage of the efficiencies made possible by conducting business on a common web-based platform. BenefitPoint 4.0 includes a significant amount of new and enhanced functionality for insurance carriers and brokers/consultants. The enhancements, which have been rolled-out through web-based training and eLearning tools, focus on eProcurement and connectivity that benefits professionals need to process requests for proposal (RFP) and renewals online. This significantly reduces paperwork, improves turnaround times (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. , and enhances customer service. "We are extremely impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: by the Release 4.0 functionality and the support and training BenefitPoint provides," said Richard Elliott, Managing Director and head of benefits e-Commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. at Marsh, Inc. "The new functionality provides great standardization standardization In industry, the development and application of standards that make it possible to manufacture a large volume of interchangeable parts. Standardization may focus on engineering standards, such as properties of materials, fits and tolerances, and drafting and efficiency tools for both carriers and brokers. Ultimately, by streamlining the exchange of data for renewals and requests for proposal, the BenefitPoint platform allows us and our carrier partners to focus on providing more strategic advice and enhanced service Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; offerings to our clients." "BenefitPoint 4.0 delivers advanced connectivity and tools to work more efficiently with our brokerage and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a partners," said Bill Wilson, regional sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → at Fortis Benefits Insurance Company. The BenefitPoint technology provides a web-based platform that connects all industry participants involved in the employee benefits product lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. . It is the first eCommerce platform to enable communications and transactions across the entire distribution channel for group insurance and financial products. Insurance carriers and the distribution channel are using the system in order to share data industry-wide, manage daily business processes, conduct end-to-end eProcurement, and communicate information on employee benefits products and services to their clients. "With the release of 4.0, the BenefitPoint solution is clearly the most comprehensive and widely used application available to the industry today," said Mark A. Pulido, chairman and chief executive officer of BenefitPoint, Inc. "BenefitPoint has been adopted by the nation's leading benefits professionals and has become the industry platform." About BenefitPoint BenefitPoint, Inc. delivers the leading Internet-based employee benefits infrastructure for the distribution and management of group insurance and financial products. As the central nervous system of the employee benefits industry, BenefitPoint provides a complete set of B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business services enabling benefits professionals to manage the entire group health insurance and benefits lifecycle. Building on the existing industry relationships among carriers, brokers, employers, and employees, the BenefitPoint solution combines the efficiency of the Internet with the established distribution model of the insurance industry to eliminate paper (saving everyone time and money), to make it possible to deliver more products and services (giving everyone more choices), and to make better information available (enabling everyone to make better decisions). Since general availability in February 2000, BenefitPoint has received widespread industry adoption from regional and national insurance carriers as well as from more than 130 of the leading U.S.-based brokerage and consulting firms. The company, headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA, can be reached at 415/277-5600 or at www.benefitpoint.com. BenefitPoint, Inc. is privately held. Note to Editors: BenefitPoint is a trademark of BenefitPoint, Inc. All other company and product names mentioned here are trademarks of their respective owners. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion